As markets complete the first half of the calendar year 2022 (CY22) with a fall of around 9 per cent, the interest-rate hike trajectory by global central banks, paired with the conundrum of inflation and growth, will move the needle for the market, observe experts. Here's a quick rundown on what they'll react to over the next six months.
Equity benchmarks began the week on a downbeat note on Monday, weighed by heavy selling in market heavyweight Reliance Industries and persisting weakness in global bourses. The rupee plunged to its lifetime low against the US dollar amid unabated foreign fund outflows, underscoring the risk-off sentiment prevailing globally as central banks embark on policy tightening to tame soaring inflation. Slipping for the second straight session, the 30-share BSE Sensex shed 364.91 points or 0.67 per cent to close at 54,470.67.
In a drastic measure to stem any major disruption to the US economy as a result of the coronavirus outbreak, the Federal Reserve has cut its benchmark interest rate to almost zero and said it would buy USD700 billion in bonds. The covid-19 pandemic has sickened more than 156,000 people worldwide and left more than 5,800 dead. The death toll in the US stands at 68, while infections neared 3,700.
Tech Mahindra was the top loser in the Sensex pack, shedding over 3 per cent, followed by NTPC, IndusInd Bank, Kotak Bank and Reliance Industries. NSE Nifty fell 185.60 points to 17,671.65.
'I have realised that if we want to make a difference in global ranking, there has to be movement in a few dimensions, but it is a bit beyond us.' Outgoing IIM-A director Ashish Nanda discusses his tenure at the revered institute with Vinay Umarji.
Humans will work far more collaboratively with artificial intelligence for rapid and complex decision-making.
...Is this a virus more dangerous than Covid-19, asks Ajit Balakrishnan.
India has an unprecedented opportunity to develop solar industry because like China, it offers scale which is critical to reducing costs and to stimulate innovation, says Shyam Saran.
The researchers considered projections under three scenarios: 1. Using the current country-specific testing rates and response functions moving forward, 2. If enhanced testing -- of 0.1 per cent a day -- is adopted on July 1, and 3. If sensitivity of contact rate to perceived risk is set to 8, leaving testing at current levels.
Very gradual fiscal consolidation glide path with looser-than-expected fiscal policy; good quality spending mix and reasonable assumption on fiscal math; and focus on privatisation, asset monetisation and long-term funding for infrastructure investments, according to Morgan Stanley, are the three key themes from the Budget 2021.
Here's the full text of Prime Minister Narendra Modi's address to a joint session of the United States Congress, delivered on Thursday.
An increase in government spending on the healthcare sector - from the current 1 per cent to 2.5-3 per cent of GDP - as envisaged in the National Health Policy 2017 could reduce out-of-pocket expenditures, as per the Economic Survey 2020-21. The rise in public spending can lead to a reduction in expenditures from 65 per cent to 30 per cent of overall healthcare spend, it noted. The Economic Survey said that for the country to effectively respond to future pandemics, the country's health infrastructure needs to be agile. Given its potential to provide healthcare access in remote areas, telemedicine needs to be harnessed to the fullest by especially investing in internet connectivity and health infrastructure, it added.
Market benchmarks Sensex and Nifty soared to new peaks on Tuesday, driven by gains mainly in metal, financial and IT stocks amid firm global cues and sustained foreign fund inflows. Tata Steel was the top gainer in the Sensex pack, surging 4.38 per cent, followed by Bharti Airtel 4.37 per cent, Vedanta 3.50 per cent, Tata Motors 3.03 per cent, HDFC 2.46 per cent and Bajaj Finance 2.39 per cent.After surging to its record intra-day peak of 41,401.65, the 30-share BSE barometer settled 413.45 points, or 1.01 per cent, higher at its all-time high of 41,352.17. Similarly, the broader NSE Nifty rallied 111.05 points, or 0.92 per cent, to its record closing high of 12,165.
Females have a higher relative-risk of COVID-19 mortality in India, the researchers said.
Even as Chinese troops continue squatting on territory that we claim as our own -- this was the lowest allocation for defence in percentage terms since the 1950s, reveals Ajai Shukla.
The proposed Central Bank Digital Currency (CBDC) to be issued by the Reserve Bank will play a critical role in improving the speed of transactions and reducing the cost of cash, a Deloitte report said on Wednesday. The Reserve Bank of India is planning to come out with a central bank-backed digital currency, using blockchain technology in 2022-23. As a financial services innovation, CBDCs are likely to play a pivotal role in shaping the 'future of value transfer', the report said, adding that most central banks worldwide are now in various stages of their evaluation of launching their national digital currencies.
Top losers in the Sensex pack included IndusInd Bank, Yes Bank, SBI, L&T, Tata Steel, M&M, Bajaj Finance, Vedanta, Tata Motors and RIL, tumbling up to 6.97 per cent.
Her appointment as World Health Organisation's deputy director offers an opportunity to push for improving the medical research environment in India.
The GST Council, headed by Jaitley and comprising representatives of all the states, is scheduled to meet in Srinagar on May 18-19 to finalise tax rates on different goods and services after unifying at least 10 indirect taxes into the Goods and Services Tax.
'Overtightening of monetary policy by central banks and the spread of new Covid variants, which may force governments to restart lockdowns or restrict mobility.'
The renowned pulmonologist, who was part of the national COVID task force, highlighted the need for research on developing vaccines which will cover not only the current circulating strains but also from the emerging variants.
'The way discrimination against Muslims has become almost normalised is very upsetting.'
Will it promote a CUET-centric coaching culture causing students to focus on the entrance rather than the Class 12th exams?
'There are three pillars of concern: The expansion of Hindu majoritarianism, the concentration of executive power and decay of independent institutions, and curbs on free expression and dissent.'
The fund allocated for pulses buffer is more than 40% of entire farm ministry's 2016-17 budget.
'Those who had no participation in the freedom struggle and creating history are keeping out one of the heroes of the independence struggle. This act, done out of political vindictiveness, is not good and shows their narrow mindset. It is an insult of each and every freedom fighter,' Raut claimed.
The MPC headed by RBI Governor Shaktikanta Das will announce the resolution of the meeting at around noon on Thursday.
He said manufacturing ethanol and biogas from waste could result in savings to the tune of Rs 5 lakh crore annually
The prime minister will have a tight schedule in the Philippines as besides attending the 15th ASEAN-India summit and 12th East Asia summit on November 14, he will have a series of other engagements including bilateral meetings with several leaders.
'It may take two years for the economy to return to normal.' 'We should ensure that the vulnerable do not dig into their savings or give up their assets because that will set them back by several years.'
'Providing funds and autonomy to a few institutions that may not have the intent to excel must not become a case of trying to feed those who are not hungry and starving those who are famished,' says Jitendra Kumar Das, Director, FORE School of Management, New Delhi.
'You cannot fight a disease as complex as COVID-19 without a carefully calibrated, localised response.'
'The RSS ideology has been borrowed from fascism and is not borne out of Hinduism.' 'They want India to have one historical identity whereas India is a land full of divergence which goes in every direction.'
The best of India's brains are instead busy solving the world's problems (I deliberately exaggerate a bit to drive home the point), as our policies incentivise them to do so.
ICICI Bank was the top gainer in the Sensex pack, rising over 3 per cent, followed by ITC, SBI, HCL Tech, Axis Bank, Bajaj Finserv and Tech Mahindra. NSE Nifty advanced 32 points to 15,856.05.
Consumption of gold is the highest among middle-income households - those with annual income between Rs 2 lakh and Rs 10 lakh - who account for an average of 56 per cent of gold sales over the last five years, according to a nationwide survey conducted by India Gold Policy Centre (IGPC) at the Indian Institute of Management, Ahmedabad (IIM-A). "Per capita consumption is highest among the rich, but total volume still rests with the middle-income group. "With increasing income, there is an increasing propensity to consume gold, although the share of gold in the portfolio does not increase with the same proportion of income," the survey report says.
Xi's ascent to power and the quick consolidation of his leadership of the party with a shock anti-graft campaign securing the title of the "core leader" of the party bequeathed only to Mao has indeed forced his rivals in the party to submission and caught the attention of the world.
The Central Board of Direct Taxes (CBDT) has signed up the country's three top economic think tanks to arrive at an official figure. This will help the government frame policies to tackle the problem.
The study was ordered in March 2011 when the nation was debating on the amount of unaccounted income with figures projected by politicians and civil society in crores of rupees.
